Ukraine’s path to prosperity during the Fourth Industrial Revolution: what can it be?

7/28/2016

The challenges facing Ukraine on the eve of the Fourth Industrial Revolution will become the key message of the Third Kyiv International Economic Forum (KIEF), which will be held on October 6-7, 2016. A number of expert discussions will focus on various aspects of this topic.


The Fourth Industrial Revolution is a new stage of global development. In particular, it means combining of automated production and digital technology, as well as the use of cyber-physical systems, Internet of Things, etc. in a single system. G20, economically and technologically advanced countries, have become the basis for launching this stage.


At the same time, Ukraine has been overwhelmed with unconscious deindustrialization over the last 25 years. One can partially stop such sliding back to the status of a third world country, applying catching-up policy. However, this policy does not answer the question of how we can join the competition for the right to be a member of the Fourth Industrial Revolution now. This requires some changes in Ukraine’s further development, and the panel discussion “Industry 4.0 and Ukrainian Industrial Policy” will focus around it. It will involve such authoritative experts as Professor of Technology Governance and Development Strategies at Tallinn University of Technology Erik Reinert, Former Deputy Prime Minister and Minister of Finance of Poland Grzegorz W. Kolodko, CEO of the World Academy of Art and Science Garry Jacobs, Former Deputy Undersecretary of Ministry of Economy of Turkey Cemalettin Damlaci and other famous participants.

 

To shape a postindustrial economy and create a framework for the new technology development successfully, Ukraine needs to restore its industrial potential. Ukraine inherited a highly developed industry from the USSR. But many enterprises ended up with technological degradation, some of them were outstripped by foreign companies. However, there are enterprises and design offices in Ukraine with the technologies competitive at international level. How to restore the old industrial system to improve its competitiveness? The answer will be given at the discussion entitled “Ukraine’s Industrial Potential”.

 

The development in the Fourth Industrial Revolution paradigm requires significant investment in the economy. That is why, the subject of KIEF 2016 will be maximally close to the practice of attracting investment to the country: the second day of the Forum will be dedicated to international cooperation, investment and trade. Opportunities for investors in various sectors of the Ukrainian economy will be considered during such discussions as “Ukraine: Time for New Investments”, “Energy Efficiency: Investment Attractiveness” and “Investments in Agribusiness. Profitable Growth through Innovation”. To participate in them, a lot of representatives of foreign companies interested in building business relations with Ukraine will visit the Forum.


Another one of the most important issues for Ukraine – the country’s dependence of reforms success on the personality of a Head of executive and legislative branches of power will be raised in the context of the discussion “Leadership and Reforms. Society Consensus as the Key of Reforms”. Examples of many other countries that are developing rapidly indicate the key role of a leader. He is the one, who builds a team of adherents, finds a super idea, convinces a nation in its productivity and leads a country to success. The panelists will consider what kind of cooperation needs to be established between authorities and society, so that reforms are supported and their implementation is controlled by this society.

 

The third KIEF will bring together several dozen leading foreign and Ukrainian economists, reformers, businessmen and government officials, including experts from countries, whose experience of economic transformation can be useful for Ukraine.

 

Follow the news on the Forum's website and on the official Facebook page.

Kyiv International Economic Forum (KIEF) is a permanently operating venue for the formation of Ukrainian economic development strategy. It is aimed to set up a dialogue between experts, businesses and government, borrowing the best international practices, creating a road map for the development and promotion of the conversion of ideas into the real action.

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